The resource based view is defined as a business management tool utilized to know the strategic resources available to firm. The basic principle of the resource based value is that the basis for a competitive advantage of a company lies primarily in the application of the group of valuable resources at the firm’s disposal. In order to change a short-run competitive advantage into a maintained competitive advantage requires that these resources are heterogeneous in nature and not perfectly mobile. In other words, this will change into valuable resources that either perfectly imitable or substitutable without great effort. If these conditions are remained, the company’s group of resources can help the firm sustaining above average returns. The recent dominant view of corporate strategy – Resource Based Theory or Resource Based View (RBV) of company – is based on the theory of economic rent and the view of the company as Continue reading
Modern Management Concepts
Case Study of Global Knowledge: Technology as an Effective Ingredient of Customer Relationship Management (CRM)
Case Summary: Global Knowledge, a worldwide leader in IT education and enterprise training solutions, needed a solid and scalable platform for delivering its virtual classroom e-Learning training programs. The company currently offers over 700 courses in 21 countries and in 13 languages every day for such leading companies as Cisco, Microsoft, Nortel, Oracle, Legato, Enterasys and Compaq in addition to a broad array of industry curriculum and certifications. Over the last 2 years, Global Knowledge has begun offering a broad menu of these classes as instructor-led, virtual e-Learning courses but needed a technology platform to effectively address their customers’ virtual training needs around the world. Global Knowledge customers, located throughout the world, attend virtual classes through various connections — dial up modem, DSL, cable modem and corporate LANs behind firewalls. The courses are equivalent to traditional instructor-led classroom courses — complete with subject matter experts as instructors; live Continue reading
Factors Influencing Organizational Change
Organization Change is a response of the organization to the various forces within and external to it. Organizations exist within a society and therefore respond to various factors like the economic, the political and legal framework as well as various socio cultural factors. An organization is like a system and is constituted of various sub systems. However what determines an organizations sustainable competitive advantage is its ability to accept change and plan for it. The two major factors, which can influence an organizations strategy and its ability to survive and grow, are: Business Cycles and Industry Life Cycle. Business Cycles Just as a biological organism grows and dies, organizations too experience life and death based on the overall economic activity. Growth in the economy means a growth for the organization and slump in the economy may reflect in a slump in the business. However all organizations do not respond the Continue reading
The Knowledge Management Life Cycle
Nowadays, most of organizations realize that the important of managing knowledge effectively. For doing so, they need to be always able to identify, generate, acquire, diffuse and capture the most valuable benefits of knowledge that sets up a strategic advantage to themselves. It also needs to have the ability to differentiate the information, which is digitizable, and true knowledge assets, which can only exist with in the context of an intelligent system. To be able to clearly understand the requirements for effectively implement knowledge management processes in the workplace, we may discuss the knowledge life cycle and strategies in each stages of the cycle. Knowledge Management Life Cycle Knowledge has a life cycle. New knowledge is born as uncertainty thing, and it form into shape as it is tested, matures through implementation in reality, is diffused to a growing user, and finally becomes broadly understood and recognize as common practice. Continue reading
Corporate Environmental Reporting
Corporate Environmental Reporting can be defined as a catch-all term that describes the various means by which companies disclose information on their environmental activities. It is important to distinguish between the terms environmental reporting and corporate environmental reports (CERs). Corporate Environmental Reports (CERs) are only one form of environmental reporting defined as publicly available, stand-alone reports issued voluntarily by companies on their environmental activities. Environmental reports can be considered a sort of small world where many crucial points in the relationship between a company and its stakeholders meet together. There can be said to be three categories of environmental disclosures: Involuntary disclosure – the disclosure of information about a company’s environmental activities without its permission and against its will. Examples of involuntary disclosures are environmental campaigns, press and media exposes and court investigations. Mandatory disclosure – the disclosure of information about a company’s environmental activities that is required by law. Continue reading
What is Customer Analytics?
Data in any form is considered as the new gold in the 21st century. Organizations that primarily focus on data-driven approaches have the potential to be ahead of their respective game. One of the important and core objectives of any company would be to maintain a solid and strong relationship with its customers, understanding them and providing them what they want. Customer Analytics is this field of analytics, where one dives deep into the consumer data and brings about useful insights on their clients. Customer Analytics finds its utmost use in the marketing as well sales departments where the customer data is the key to understand the customer behavior for them chart their marketing as well advertising strategy. Customer Analytics supports business decision-making through targeting specific groups based on income groups, age groups, and customer segmentation as understanding customer groups would help the businesses to create more strong strategies for Continue reading